The best wealth management plan has nothing to do with “outside forces” beyond your control, but rather everything to do with what’s most important to you. Instead of feeling overwhelmed by the supposed complexity surrounding financial decisions, a straightforward wealth management plan can bring clarity and peace of mind about which strategies will work best for your situation. What, How, … Read More
4 Steps to Prepare for Stock Market Volatility
Market corrections are never easy to go through, even when they are expected. However, certain elements can help us through downturns, with the most crucial being a solid understanding of why we invest and have a wealth management plan. Planning and understanding can help bring peace of mind when facing uncertain times financially during stock market turbulence. Below are a few … Read More
Understanding Benchmarks; What Should They Mean?
When I look at what I do for clients at TAMMA, I can break it down into two distinct categories; wealth planning and asset management, and tax preparation. One of the value propositions that I offer to clients is to have their wealth planning integrated with their asset management. In my mind, you can’t or shouldn’t have one without the … Read More
The Alternative College Savings Plan
Besides saving for retirement, saving for college is the most discussed wealth planning topic that I address when working with families. A child born in 2018 that begins kindergarten in the fall of 2023 would attend college between the years of 2036 and 2040. If that child attended an average public in-state 4-year college and if the annual price increases … Read More
The New Definition of Family Office
When you hear the term Family Office, what is the first thing that you think about? Do you think of it in financial terminology or maybe related to the medical field? Within the financial industry, the term Family Office typically meant an advisory firm that serves ultra-high-net-worth investors. I am here to help change that definition. I have always believed … Read More
Start with WHY, The New Wealth Planning Reality
One of the unique differences in wealth planning at TAMMA is that we often start with “Why” when we are developing wealth plans for our clients. Starting with why helps to set the foundation on which the wealth planning process is built on. Once we determine the why, we can focus on how we invest our time, energy, and, yes, … Read More
Why a Financial Planner is More Than Just an Investment Guide: The Four Critical Aspects
Working with a professional of any means, whether a doctor, attorney, or specialist, is, in many ways, no different than having and working with a wealth advisor. You, the client, rely on these professionals to support and guide you through decision-making while formulating opinions and reviewing alternative solutions to reach the best possible outcome for your situation. Many people believe … Read More
Tax Planning is Year-Round; 7 Items that You Should be Checking!
Tax Day has been in our rearview mirror for some time now; I thought that I would provide a refresher on the significant tax code changes that went into place during 2018 with the infographic below. Now would be a good time to examine the following; Are you on track to maximize qualified retirement contributions? $19,00 for 401(k)s an additional … Read More
Essentialism; If You Don’t Prioritize Your Life, Someone Else Will
I often find myself discussing with individuals and families the personal and financial priorities that continually push and pull on people. I try to get people to think and focus on what is essential to them and the lives that they want to lead. This focus is on making the wisest possible investment of your time and energy to achieve your … Read More
The Latte Factor is Not Going to Make You a Millionaire; Consider This Instead
Have you ever heard of a theory called the Latte Factor? The theory goes that if you gave up your $5 a day Starbucks latte and rather invested that money over time, you would reach a sizeable amount of money to help you achieve your retirement or some other wealth management goal. Here is the math on this theory using … Read More
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